昨天是春节假期后首个工作日，南京各大重点工业企业迅速从"春节模式"切换至"奋进模式"，以"起 步即冲刺、开工即决战"的昂扬姿态，抢生产、拓市场、提质效，在热气腾腾的生产场景中绘就新春开 局的奋进画卷，以实干笃行全力争创一季度"开门红"。 抢抓生产，收心归位启新程 金陵石化高端石墨装置操作室里，节后首个工作日的交接班会上，气氛格外热烈。中国石化劳动模 范、金陵石化炼油三部党总支书记顾承瑜的一番话，让现场职工干劲更足："市场对高端碳材料需求旺 盛，这是难得的黄金期，大家要迅速收心，细致排查隐患，一马当先增产创效，绝不能掉链子。" 今年以来，金陵石化精准把握高端碳材料市场需求动态，运用"日优化、日测算"系统开展全流程优 化，依托装置优势实施差异化生产，储能焦、预焙阳极焦、针状电极焦、高端负极焦等高附加值产品多 点开花，产销两旺。 扬子石化的各个生产工区里，忙碌的身影随处可见。烯烃部乙烯工区，裂解炉升温作业正处于关键 节点，炉温控制分毫不能差。就在此时，DCS（分散控制系统）控制台突然传来温升提示声。"设备如 果不守好，这一年的起步就顺不了，我先上！"操作工刘武健话音未落，便戴上安全帽登上几十米高的 看火平台，发现炉 ...

Core Viewpoint - The rubber antioxidant industry in China is experiencing steady growth, with significant production and demand increases projected for the coming years, driven by the recovery of rubber products, particularly tires [1][8][10]. Group 1: Industry Overview - Rubber antioxidants are a major category of rubber additives that effectively delay rubber aging by inhibiting oxidation, thermal degradation, and ozone erosion, thereby extending the lifespan of products like tires and hoses [1][2]. - The main types of rubber antioxidants include amine-based, phenolic, and other categories, each with distinct advantages and disadvantages [2]. Group 2: Production and Demand - As of June 2025, China's domestic antioxidant production capacity is expected to reach 637,000 tons, a 14.15% increase from 2024 [1][8]. - The production of rubber antioxidants in 2024 is projected to be 451,600 tons, reflecting a year-on-year growth of 7.7%, while the production from January to September 2025 is expected to be 309,400 tons, up 4.2% year-on-year [1][8]. - The apparent demand for rubber antioxidants in China is anticipated to be 377,200 tons in 2024, marking a 10.1% increase, with 251,600 tons expected from January to September 2025 [10][11]. Group 3: Trade Dynamics - China's rubber antioxidant industry is in a trade surplus position, with significant exports, particularly of TMQ antioxidants, which totaled 61,000 tons and generated $11,265.8 million in revenue from January to September 2025 [11][12]. - During the same period, imports of rubber antioxidants amounted to 2,650.2 tons, with a notable decline in imports of TMQ antioxidants [12][13]. Group 4: Future Trends - Future trends in the rubber antioxidant industry include a focus on environmentally friendly and low-carbon products, multifunctionality, synergistic effects among different antioxidants, and the development of long-lasting antioxidants to enhance product durability [14][15].

Core Viewpoint - The company has successfully replaced traditional copper-based catalysts with self-developed precious metal catalysts in the production of rubber antioxidants, leading to significant improvements in production efficiency and process stability [1] Group 1: Production Process Innovation - The new precious metal catalyst allows for a 40% reduction in reaction temperature compared to traditional methods [1] - Pressure during the production process has been reduced by 60% with the new catalyst [1] - The overall production process has been shortened by one-third, enhancing continuity and stability [1] Group 2: Technical Development - The company’s research institute developed the precious metal catalyst specifically for rubber antioxidant production, addressing issues related to complex procedures and side reactions [1] - The implementation of fixed-bed continuous hydrogenation technology complements the new catalyst, marking a significant technological advancement in the production process [1]

Core Viewpoint - The company has achieved a breakthrough in the salt removal technology for the rubber antioxidant intermediate product RT Peisi (4-Aminodiphenylamine), which is expected to save over 5 million yuan in comprehensive costs annually [1] Group 1: Technological Breakthrough - The first salt removal device for RT Peisi was built and put into operation in August, running stably [1] - The company faced challenges such as high alkali consumption, salt accumulation leading to increased hazardous waste disposal costs, and poor production stability prior to this breakthrough [1] - A special task force was established in October 2024 to focus on production technology issues, leading to the successful development of proprietary salt removal technology for RT Peisi [1] Group 2: Operational Efficiency - The company designed and constructed the first RT Peisi salt removal device based on small-scale tests and side-line experiments [1] - In the first month of operation, the alkali consumption was reduced by 59%, with 100% reuse of alkali solution [1] - In September, the RT Peisi device achieved a historical record in alkali consumption [1] Group 3: Market Impact - The new technology is expected to lower production costs for downstream antioxidants 6PPD and IPPD, enhancing the core competitiveness of the rubber antioxidant product series [1]

| 证券代码：600500 | 证券简称：中化国际 | | | 编号：2025-067 | | --- | --- | --- | --- | --- | | 债券代码：138949 | 债券简称：23 | 中化 | K1 | | | 债券代码：241598 | 债券简称：24 | 中化 | K1 | | 1 主要产品 2025 年 1-9 月产 量（吨） 2025 年 1-9 月销 量（吨） 2025 年 1-9 月销 售金额（万元） 氯苯产品 188,847.53 181,817.09 104,906.28 氯碱产品 1,697,026.47 566,505.42 84,630.46 树脂产品 257,276.30 229,513.63 288,883.12 橡胶防老剂 124,176.19 134,639.91 218,630.06 一、主要产品的产量、销量及收入实现情况 | 三、主要原材料的价格变动情况（不含税） | | --- | | 主要原材料 | 2024 年 | 1-9 | 月平 | 2025 年 | 1-9 | 月平 | 变动比率 | | --- | --- | --- | --- | -- ...

Core Insights - The 23rd China International Rubber Technology Exhibition (RubberTech China 2025) will be held in Shanghai from September 17 to 19, 2025, where the company will showcase its new and existing products and solutions [1] Group 1: Product Innovation - The company has a leading global position in polymer additives, showcasing innovative products such as rubber accelerators, anti-aging agents, specialty ketones, intermediates, and insoluble sulfur at the exhibition [3] - The high-quality specialty ketone product series includes Methyl Isobutyl Ketone (MIBK), Methyl Isopropyl Ketone (MIAK), Diisobutyl Ketone (DIBK), and Methyl Pentyl Ketone (MAK), which are developed using internationally advanced processes and fill a domestic gap [3] - These products can be applied in high-end rubber anti-aging agents, surfactants, eco-friendly paints, digital printing inks, electronic chemicals, and process solvents [3] Group 2: Customer Engagement - On the first day of the exhibition, the company's booth attracted a diverse range of professionals, with both long-term clients and new customers engaging in discussions about product characteristics, application scenarios, sustainability initiatives, and future strategic planning [5] - The company aims to provide high-quality, environmentally friendly products and stable, efficient services, which will guide its future strategic layout and R&D direction [5] - Notable attendees included Wang Ligang, Deputy General Manager of Sinochem, who visited the booth to learn about the company's advantages in technology R&D, innovative technologies, and green products [5] Group 3: Sustainability Initiatives - The Deputy Director of the company's Technology Center presented a report on "Green Rubber Additives Supporting Sustainable Development in the Tire Industry" at the 2025 World Elastomer Technology and Engineering Forum [7] - The company focuses on meeting customer needs through multi-faceted innovation in rubber additives, developing low-odor 6PPD, high-content S-TMQ, and green accelerator products [7] - New green anti-aging agents meet environmental safety requirements, and low-pollution anti-aging agents improve the appearance of tire rubber while providing excellent aging resistance [7]

Core Insights - The 23rd China International Rubber Technology Exhibition showcased innovative products and solutions from Saint-Ao Chemical, highlighting their popularity among attendees [1] Group 1: Product Offerings - Saint-Ao Chemical exhibited a range of innovative products including rubber accelerators, anti-aging agents, specialty ketones, intermediates, and insoluble sulfur, covering multiple categories of polymer additives [1] - The company's accelerator series features excellent scorch resistance, fast vulcanization speed, and good aging resistance, making them suitable for applications in tires, rubber shoes, hoses, tapes, and cables [1] - High-quality specialty ketones produced using internationally leading processes fill domestic gaps and can be used in high-end rubber anti-aging agents, surfactants, eco-friendly paints, digital printing inks, electronic chemicals, and process solvents [1] Group 2: Market Engagement - The exhibition attracted a diverse range of professionals, with continuous consultations and discussions from both long-term partners and new clients from around the globe [1] - In-depth communications focused on product characteristics, application scenarios, sustainability initiatives, and future strategic planning [1]

Group 1 - The speech by General Secretary Xi Jinping emphasizes the importance of inheriting and promoting the great spirit of the Anti-Japanese War, which resonates with the people's sentiments and points towards the direction of progress [2][5] - The city’s industrial and information technology sector aims to implement the spirit of the speech by focusing on key industries and enhancing competitive advantages, with targets set for 2025 to achieve a scale of over 1 trillion in software and information services and 500 billion in smart grid industries [1][2] - The city’s development and reform commission plans to translate the spirit of the speech into concrete actions, focusing on high-quality development and key reforms, while enhancing the city’s development capabilities [2][5] Group 2 - The customs authority aims to enhance regulatory efficiency and service levels, promoting cross-border trade facilitation to drive high-quality foreign trade development in Nanjing [2][3] - The local customs will focus on supporting the development of key industries such as cross-border e-commerce and biomedicine, while enhancing the airport's hub functions [4][5] - Companies like Nanjing Steel and Nanjing Chemical are committed to translating the spirit of the speech into practical actions, focusing on technological self-reliance and innovation in their respective fields [5][6]

Group 1 - The company disclosed its main operating data for the first half of 2025, including production, sales volume, and revenue for key products [1] - Chlorobenzene products had a production volume of 129,943.62 tons, sales volume of 127,172.51 tons, and revenue of 75,723.26 million yuan [1] - The total production volume for caustic soda products was 1,173,138.18 tons, with a sales volume of 390,802.41 tons and revenue of 59,837.47 million yuan [1] Group 2 - The average price of chlorobenzene products decreased by 13% to 6,868.34 yuan per ton compared to the previous period [1] - The average price of caustic soda products decreased by 5% to 1,611.59 yuan per ton [1] - The average price of resin products increased by 8% to 11,635.39 yuan per ton [1] Group 3 - The average price of rubber antioxidants decreased by 11% to 18,978.35 yuan per ton [1] - The average price of benzene, a key raw material, decreased by 26% to 8,187.00 yuan per ton [1] - The average price of coal decreased by 21% to 792.00 yuan per ton [1]

| 主要产品 | 2024 年 | 1-6 | 月平 | 2025 年 1-6 | | 月平 | 变动比率 | | --- | --- | --- | --- | --- | --- | --- | --- | | | 均价格（元/吨） | | | 均价格（元/吨） | | | | | 氯苯产品 | | 6,868.34 | | | 5,954.37 | | -13% | | 氯碱产品 | | 1,611.59 | | | 1,531.14 | | -5% | | 树脂产品 | | 11,635.39 | | | 12,584.80 | | 8% | | 橡胶防老剂 | | 18,978.35 | | | 16,842.72 | | -11% | 主要产品 2025 年 1-6 月产 量（吨） 2025 年 1-6 月销 量（吨） 2025 年 1-6 月销 售金额（万元） 氯苯产品 129,943.62 127,172.51 75,723.26 氯碱产品 1,173,138.18 390,802.41 59,837.47 树脂产品 164,669.30 144,996.16 182,474.76 橡胶防老剂 ...